BUT THEY LOOKED RICH

Once upon a time, a homeowner leased out her property to what appeared to be a well-off Filipino couple.

They arrived for the viewing in a sports car, accompanied by bodyguards. They looked the part—confident, polished, and financially capable. They expressed strong interest and, unusually, insisted on moving in within a week.

Pressed for time but reassured by appearances, the owner accepted. The couple issued post-dated checks (PDCs) covering several months of rent.

At first, everything seemed fine.

Then one day, the owner received a notice: utilities for the property were about to be disconnected due to non-payment.

She tried contacting the tenants—but their numbers were no longer reachable.

Alarmed, she checked her bank records.

That’s when she discovered the truth.

The first few PDCs had cleared. But the succeeding checks—stretching back months—had already bounced.

Worse, the bank had not actively alerted her. Unless she had been closely monitoring her account, the issue could easily go unnoticed.

Fearing the worst, the owner coordinated with village administration and entered the property.

What she found was devastating.

The house had been abandoned.

Air-conditioning units had been left running for months, likely since the last time the tenants were seen. Water had pooled across the floors from condensation leaks. The ceilings showed visible damage—signs of prolonged neglect.

By the time everything was accounted for—unpaid rent, utilities, and property damage—the total loss far exceeded the security deposit.

Determined to pursue legal action, the owner reviewed the tenants’ documents.

That’s when she uncovered the final blow:

The government IDs they submitted were fake.

*****

Here are the lessons from yesterday's post.

1. Verify IDs—properly.

Yes, this is hard in the Philippines. But the higher the value of the property, the higher your standard should be.

Take a cue from banks: Ask for primary IDs (passport is best)

Cross-check names online

Look for digital footprints (LinkedIn, business presence, etc.)

If a person claims to have the capacity but leaves no trace—the more the reason you have to scrutinize further.

2. Monitor your bank account—religiously.

Some banks do not proactively inform clients of returned checks. In this case, the owner’s main branch even pointed to the depositing branch—creating a gray area in accountability.

If you want to punish the tenant: don’t stop depositing the checks.

Each returned check:

Triggers penalties on the issuer’s account

Can push the account into a negative balance

May lead to account closure by the bank

Once the account is closed, future checks bounce under a more serious classification (closed account), which strengthens your case.

Over time, this can also:

Get the issuer flagged in banking databases

Make it difficult for them to open new accounts

Potentially affect their credit lines

3. The Real Lesson: Beware of false confidence.

The more a tenant tries to project wealth and urgency, the more disciplined you need to be.

I’ve seen this pattern more than once. In another case, a tenant arrived in a Maserati. The broker immediately assumed he was ideal. Until the checks started bouncing. Until the lease defaulted. Today, that same broker treats flashy cars not as a green flag—but as a signal for more scrutiny, not less.

Lastly, for additional context:

The male tenant was, in fact, a wealthy and influential individual.

The female was his mistress—and the house was meant for her.

When the relationship ended, so did the payments. I’ve seen this story play out more than once.